-- The education apps market in the US is projected to grow at a 31% CAGR over the forecast period (2015-2019). Students prefer to use mobile applications over conventional methods. This factor is expected to drive market demand over the next 5 years.
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Demand for m-learning (mobile learning) and e-learning (electronic learning) is projected to spur demand for the industry. But student’s privacy seems to be at risk, since many of these apps sell their email Ids to third parties. This could hamper growth prospects for the market in the coming years.
Education apps target teachers and the student community as a whole. The companies advertising these apps follow the freemium model. They offer it to teachers for free with extra features to be paid on a monthly basis. Currently, there are 29% free and 34% paid educational apps in the market. Market vendors can capitalize by studying student patterns and listening to teacher opinions regarding app functionality.
Products encompassed in the market are currently targeting pre-primary education, primary education, secondary education, and higher education. Primary and secondary education segments are predicted to generate huge revenues due to the growth of online schools and demand for blended learning.
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Another major end-user of the market are STEM (Science, Technology, Engineering, and Mathematics) students. Education apps are estimated to engage and entice these students with animation and music. These apps give hints or tips when faced with complex problems. Moreover, sale of these apps will trigger the sales of the tablets and smartphones market in the process.
The education apps market in the US is dominated by Google, Microsoft, and Apple due to these major companies cornering the smartphone market. Prominent vendors of education apps in the US include Rosetta Stone Inc., Duolingo, IXL Learning, and Age of Learning, Inc. Entry of new players can result in market fragmentation.
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